PNC Financial Services Group (NYSE:PNC) had its price target hoisted by research analysts at Barclays from $139.00 to $168.00 in a research note issued to investors on Tuesday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays’ price target suggests a potential upside of 16.43% from the company’s previous close.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, September 5th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $151.00 price target on shares of PNC Financial Services Group in a report on Monday, December 4th. Nomura boosted their target price on shares of PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Wells Fargo & Co set a $135.00 target price on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Credit Suisse Group reissued a “hold” rating and set a $135.00 target price on shares of PNC Financial Services Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Sixteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $140.43.
PNC Financial Services Group (PNC) traded down $1.38 during mid-day trading on Tuesday, reaching $144.29. 1,127,500 shares of the company’s stock traded hands, compared to its average volume of 2,164,984. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group has a 52-week low of $113.66 and a 52-week high of $147.28. The company has a market cap of $68,653.34, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.92 and a beta of 0.90.
In related news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Q. Reilly sold 19,576 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the transaction, the insider now owns 103,299 shares in the company, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. Insiders have sold a total of 108,523 shares of company stock worth $15,392,168 in the last quarter. 0.43% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNC. FMR LLC grew its stake in shares of PNC Financial Services Group by 13.9% in the 2nd quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock worth $1,957,539,000 after acquiring an additional 1,915,923 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of PNC Financial Services Group by 240.4% in the 2nd quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock worth $298,281,000 after acquiring an additional 1,686,944 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of PNC Financial Services Group by 2,624.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock worth $213,239,000 after acquiring an additional 1,645,007 shares in the last quarter. Koch Industries Inc. grew its stake in shares of PNC Financial Services Group by 78,828.1% in the 2nd quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 1,348,748 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of PNC Financial Services Group by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock worth $1,592,394,000 after acquiring an additional 875,164 shares in the last quarter. Hedge funds and other institutional investors own 81.48% of the company’s stock.
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PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.
